As luck would have it, I interned at this company called New Line Cinema after my freshman year. That sentence makes me feel old now that I’m graduating soon. They made a bunch of movies that you’ve heard of, seen, and love very much. In a poor attempt to reference Drake, the rapper who will perform on Cornell’s Slope Day on May 7, 2010, my time at New Line Cinema was *the best I ever had*. Please don’t tell any of my other former employers. It is my past experience that makes it only fair that I speak about Time Warner (TW). Whether you and I want it to be or not, its presence is everywhere.
Time Warner is a big daddy when it comes to media and entertainment. The company isn’t the biggest of the daddies. But trust me, it’s up there. Its assets include subsidiaries in the Internet, publishing, film, communications, and television industries.
According to TW’s most recent consolidated financial statements, the majority of its revenue comes from cable subscriptions and distribution of content that surmount $36 billion. In relation of the kinds of assets that TW owns, there is no surprise that TW makes this kind of money every year. The vertical integration of magazines, television channels, websites, and motion picture companies allows TW product and content to be promoted and available to the public ubiquitously. Along with the breadth of media outlets, TW has depth to support and strengthen each one. Their magazines range from People to Time For Kids, television from HBO to Adult Swim, websites from The Smoking Gun to GameTap, and production companies like Warner Brothers.
In terms of traditional media and new media, media conglomerates like Time Warner are able to bridge this gap between to the two by using material from traditional media and using it as content for new media. Classic films are being re-released on Blu-Ray. Motion pictures are shown in theatres in IMAX and 3-D. We are starting to see more films made and based solely from novels. It makes you wonder where all the writers for Hollywood have gone. Rights to books are cheaper to buy than the work of a screenwriter. Movies like The Lord of the Rings, The Notebook, The Time Traveler’s Wife, and Harry Potter are some major examples. I thought my fascination with vampires would cease after author Stephenie Meyer’s creation of the Twilight Saga and Edward Cullen, a male vampire who has made millions of females swoon and hyperventilate. This is not the case. My fascination lives on. HBO had to perpetuate Charlaine Harris’ novels into this vampire-obsessed society with True Blood and really attractive villains like Eric Northman. There’s also The Vampire Diaries but I’ll pass.